“Forced Automation” by COVID-19?
New research provides the first empirical analysis of the impact of COVID-19-induced automation on job losses.
COVID-19 and the Philadelphia Fed
The coronavirus pandemic presents unprecedented challenges for people across the Third District, the U.S., and the
world. This is a global health crisis, and health-care providers and public health experts are on the frontlines,
saving lives, which is the highest priority. The Federal Reserve System is doing its part by taking actions
necessary to support the financial health of households and businesses disrupted by the pandemic. Here at the
Philadelphia Fed, we are continuing to protect and support the financial system, conducting outreach with banks and
community stakeholders, collecting data to understand the impact on our regional economy, creating new knowledge
through research to inform policymakers, shedding light on the impact of the pandemic on vulnerable communities, and
Below are links to information, resources, and research related to COVID-19. We invite you to check back often for
updates as new information becomes available.
- Philadelphia Fed Resources
- Latest Federal Reserve System News
- Resources for Businesses
Resources from the Philadelphia Fed
Consumer Finance Institute
- CFI COVID-19 Survey of Consumers — Wave 4 Tracks How the Vulnerable Are Affected More by Job Interruptions and Income Disruptions – September 24, 2020
This report shares results from Wave 4 of a national survey of consumers investigating COVID-19 impacts on job status, income, and personal financial security.
- Residential Mortgage Refinancing During the COVID-19 Pandemic – September 21, 2020
This special report provides a survey of recent activity in the market for mortgage refinances and estimates the number of refinance candidates remaining to be over 17 million, based on the most recent data available.
- CFI COVID-19 Survey of Consumers — Wave 3
Reveals Improvements, but Not for Everyone – August 3, 2020
This report shares results from Wave 3 of a national survey of consumers investigating COVID-19 impacts
on job status, income, and personal financial security.
- How Has the COVID-19 Pandemic Affected the
Supply of Consumer Credit? A Preliminary Look at the U.S. Credit Card Market ― Revised August 3,
For credit card companies and other lenders, the pandemic has created a variety of risks and challenges.
This report examines how credit card lenders have responded to the COVID-19 pandemic.
- CFI COVID-19 Survey of Consumers — Wave 2
Updates, Impact by Race/Ethnicity, and Early Use of Economic Impact Payments – June 22,
This report updates job loss and financial security data collected during the second wave of
CFI’s national survey of consumers, including new data relating to the receipt and use of the
Coronavirus Aid, Relief, and Security (CARES) Act’s EIP (Economic Impact Payment) and results
segmented by respondent race/ethnicity.
- CFI COVID-19 Survey of Consumers – An
Assessment of the Financial Health and Stability of U.S. Consumers – May 21,
This report shares results from a national survey of consumers investigating COVID-19 impacts on job
status, income, and personal financial security.
Banking & Supervision
- Household Rental Debt During COVID-19 – October 22, 2020
This report provides new estimates of the number of households with rental debt, and the amount of debt owed, resulting from pandemic-related job losses.
A New Kind of Back to Work: Talent, Recovery, and the Future of Greater Philadelphia
October 2, 2020
This event is for employers, workforce organizations, and educators who want to learn about creating the jobs of the future and how skills-based hiring is benefiting both workers and employers.
“Forced Automation” by COVID-19? Early Trends from Current Population Survey Data – September 14, 2020
This research provides the first empirical analysis of the impact of COVID-19-induced automation on job losses.
Research for Equity in
Cohosted by the Philadelphia Fed, the Upjohn Institute, and the Penn Institute for Urban
Research, this webinar series focuses on most up-to-date research and best practices in the field on
how to promote a strong and equitable recovery from the pandemic.
- How Job Training Matters, Wednesday, July 1, 12:00 noon–1:00 p.m. ET
- Place-Based Strategies, Thursday, July 16, 12:00 noon–1:00 p.m. ET
- Small Businesses, Thursday, July 30, 12:00 noon–1:00 p.m. ET
- Unemployment Insurance, Thursday, September 10, 12:00 noon–1:15 p.m. ET - Register
- Automation, Thursday, September 17, 12:00 noon–1:15 p.m. ET- Register
- COVID-19: Equity in Recovery
– April 30, 2020
Read more about our new series, which looks at the workers, small businesses, and places most affected
by economic disruption caused by the COVID-19 pandemic.
- Broadband Access, Computer
Use, and Labor Market Attachment in Philadelphia – August
During the pandemic, our reliance on high-speed internet for work has grown dramatically. A new
study looks at how this trend has highlighted the adverse impacts of the digital divide on
households and labor market outcomes in Philadelphia.
- Which Neighborhoods and
Households Will Be Most Impacted by COVID-19? – April 30, 2020
This research brief identifies the neighborhoods in Philadelphia, the Third District, and the
U.S. hit hardest by job losses due to the COVID-19 pandemic.
- The Small Businesses Most
Impacted by COVID-19 Shutdowns– April 23, 2020
This research brief identifies the small businesses, and small business employees, most
economically vulnerable to the effects of social distancing practices and mandated shutdowns due
to the COVID-19 pandemic.
- Which Workers Will Be Most
Impacted?– April 15, 2020
This research brief looks at the types of jobs and workers most likely to feel the economic
impacts of social distancing practices due to the COVID-19 pandemic.
- COVID-19 Equity Twitter Chats
We conducted a series of Twitter chats on the effects of COVID-19. The chats featured a diversity of
voices from the Third District and beyond, including national experts.
- #JobEquityCOVID Twitter
Chat – April 1, 2020
We spoke with experts about job equity, economic insecurity, and the risks workers face in the wake
of COVID-19 and beyond.
- #HousingEquityCOVID Twitter
Chat – April 15, 2020
Experts discussed how COVID-19 and shelter-in-place have amplified long-standing housing issues.
- #WealthEquityCOVID Twitter Chat
– April 22, 2020
We hosted a discussion about what COVID-19 means for our shared economic well-being, and how we can
expand financial inclusion for marginalized individuals and communities.
Messages from President Harker
- The Impact of COVID-19 on
Communities and Small Businesses – July 14, 2020
Speaking at a Fed webinar, Philadelphia Fed President Patrick Harker said small businesses, and those
owned by minorities in particular, are among those most economically impacted by the COVID-19 crisis.
- Economic Outlook: An Uneven Economic
Recovery – June 16, 2020
In remarks to the Chamber of Commerce for Greater Philadelphia, Philadelphia Fed President Patrick T.
Harker presented his economic outlook and discussed the Fed’s actions in response to COVID-19. He
also spoke about the Fed’s commitment to inclusion.
- The Economic Outlook for Delaware
and the Nation Amid COVID-19 – May 12, 2020
Philadelphia Fed President Patrick Harker told the Chamber of Commerce for Greater Philadelphia that he
foresees an uneven economic recovery in the months ahead.
- Our Response to the COVID-19
Pandemic – April 16, 2020
President Patrick Harker discusses our work to support the economy, our engagement with local
communities, and the latest research.
- Update on Coronavirus –
March 17, 2020
See a statement from President Patrick Harker, updates from the Board of Governors, and links to
Latest Federal Reserve System News